On 13 January 2016, the International Accounting Standards Board (IASB) finished its long-standing project on lease accounting and published IFRS 16, ‘Leases’, which replaces the current guidance in IAS 17. This will require far-reaching changes in accounting by lessees in particular.
Amendment of RMO No. 20-2007 relative to the Simplified Processing of Applications for Compromise Settlement and Abatement Cases by Concerned Regional Offices
2016 Filing of Annual Financial Statements and General Information Sheet
Centralized Processing of ATRIGs for Excisable Products
The International Accounting Standards Board (IASB) has postponed the date when entities must change some aspects of how they account for transactions between investors and associates or joint ventures.
Amending RR No. 16-2005 on the sale, importation or lease of passenger or cargo vessels and aircrafts for domestic or international transport operations
Suspension of All Audit and other Field Operations of the Bureau of Internal Revenue effective 16 December 2015
The Tax Incentives Management and Transparency Act (TIMTA)
According to the International Accounting Standards Board (IASB), “the insurance industry is an important and increasingly international industry and insurance contracts expose entities to long term and uncertain obligations.
Further extending the deadline under Revenue Regulation No. 12-2015, for adjusting CRM/POS/other similar machines